The Chartered Institute of Payroll Professionals
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“Some agency workers on a contract for services may not be entitled to the accrual of holiday or to take holiday under the Working Time Regulations while on furlough because they are not workers or treated as workers under those regulations when between assignments or otherwise not working on assignments. Contracts may nevertheless include holiday provisions which will continue to operate in the same way as th ey did prior to the furlough period.”
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How to add a service to your Business Tax Account 8 July 2021
HMRC has released a new YouTube video, which advises how services such as Pay As You Earn (PAYE) for employers, Self-Assessment, Corporation Tax and VAT can be added to business tax accounts.
The HMRC Business Tax Account is an online account which brings together the customer’s business taxes into one place. There is a guidance page available on GOV.UK which gives more detail on who can use the Business Tax Account, what it can be used for and how to sign up.
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Fifth SEISS grant 8 July 2021
Eligible individuals will be able to make claims in relation to the fifth Self-Employment Income Support Scheme (SEISS) grant in late July.
Those who are eligible will be contacted by HMRC from mid-July to notify them of their personal claim date, which will be the earliest date from which they can claim.
The amount paid under the fifth grant will be determined by a turnover test for the majority of individuals. Further information about this is available here . The test will look at how much an individual’s turnover has reduced in tax year 2020-21 as a result of the pandemic.
Anyone who was not eligible for the fourth grant will not be eligible for the fifth grant as the same tax returns are used to establish eligibility for both grants.
The steps that eligible individuals need to take are as follows:
• They may need to calculate their 2020-21 turnover figure. HMRC will contact them if they are required to do this • There is no need for them to submit their 2020-21 Self-Assessment tax return at this time. The deadline for Self-Assessments for 2020-21 remains as 31 January 2022 • They must prepare to submit claims themselves. Agents cannot submit claims on behalf of their clients, as doing so may cause a delay to the claim process, or could result in a claim being rejected
A reminder has been circulated that SEISS grants are taxable and liable to self-employed National Insurance (NI), and so must be reported on tax returns.
An auto-correct solution has been implemented that will address most new incorrect returns, but individuals may need to take certain steps to ensure that they aren’t charged tax and self -employed NI twice on the grants that they received. Further information can be located here.
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The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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